Are you ready to work hard, challenge yourself, and hit your goals—and get a cash bonus for increasing your income? 

The Family Self-Sufficiency (FSS) Program is a five-year program that works with housing choice voucher recipients to help them develop an action plan for reaching their goals, whether that be to secure employment, further their education, purchase a home, or start a business. FSS provides supportive counseling, financial education, and credit success workshops. Participants also work one-on-one with Economic Mobility Advisors.

Plus, participants receive an escrow account set up in their name, which brings the opportunity to save money as their income increases (see escrow account details below). There is no limit on the amount of money a participant can receive in escrow in this program. 

Eligibility is straightforward: Participants must be a Way Finders’ housing choice voucher recipient and be willing to challenge themselves to hit their goals!

What can FSS do for me?

The cornerstone of the FSS program is working with an FSS advisor who will help you overcome obstacles by linking you to helpful services including:

• Advanced education and skill training
• ESL and HiSET (GED) classes
• Credit improvement and support
• Financial Education
• Homeownership preparation

Extra bonus alert: Participants who purchase a home and relinquish their housing choice voucher may receive a $5,000 homeownership bonus (this is in addition to the money they earn in escrow).

How does the escrow account work?

When your rent goes up because you’re earning more, you will still pay it, but the difference will be set aside for you in the escrow account. When you complete your FSS goals, and you are free of public assistance at graduation, you’ll receive the money that was saved on your behalf.

Graduates of the program have used their escrow account for things like:
• Furthering their education
• Starting a business
• A down payment on a home
• Fulfilling personal goals for themselves and their family

FSS Savings Match Homeownership Program (SMHP)

If you are pursuing homeownership—and meet income guidelines—this program is for you.

Way Finders’ FSS Savings Match Homeownership Program provides eligible housing choice voucher participants an opportunity to save money toward homeownership. The state will match a participant’s savings 3-to-1, up to a total of $12,000 in state-matched savings.*

By combining the Savings Match Homeownership Program with the FSS Homeownership bonus, participants may potentially save up to $21,000 for a home ($4,000 personal savings + $12,000 state-match funds + $5,000 FSS homeownership bonus).

*Match money can only be used toward the purchase of a home.

SMHP eligibility requirements

• Have household earned income of $32,950 or higher
• Are committed to purchasing a home in 2 to 7 years
• Agree to open a new bank account and share their deposit history
• Agree to attend all required workshops and meet mortgage requirements
• Are already in FSS (or will join FSS)

Ready to learn more? Contact us!

phone: 413-233-1620
email: economicmobility@wayfinders.org